14 Jan 2019 07:00
Be Heard Group plc
Pre-close trading update
Be Heard Group plc ('Be Heard or 'the Group'), the digital marketing services group, today issues a trading update ahead of its announcement of results for the year ending 31 December 2018, which is scheduled for 25 March 2019.
Trading in the second half of the year, and therefore for the full year, was in line with the Board's expectations. A good trading performance coupled with strong cost control in the last few months of the year have resulted in a marked improvement in Adjusted EBITDA during the second half of the year (when compared to the first six months), consequently the overall result for the year will be in line with market expectations.
David Morrison, Non-Executive Chairman of Be Heard plc, commented:
"Given the difficult start to the year and the management changes announced hitherto, I am particularly pleased to report a satisfactory performance in the second half.
The new management team, led by Simon Pyper (CEO) and Ben Rudman (COO) has brought a clear and decisive approach to the running of the business, with a focus on cost control and managing to realistic targets. There is still much to do, but the team has, in a relatively short period of time, made good and demonstrable progress across a number of areas.
Looking to 2019, the Group has set itself operational and financial objectives based on modest revenue growth and tight cost control. Given the financial constraints within the business and the somewhat, turbulent political and economic climate, we are as well placed as we can be as we start the new financial year."
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Note 1: Adjusted EBITDA is Earnings Before Interest Tax Depreciation and Amortisation and excludes; share based payments charge, abortive costs and restructuring/redundancy costs.
Enquiries
Be Heard Group plc +44 20 3828 6269
Simon Pyper, Chief Executive Officer
Ben Rudman, Chief Operational Officer
N+1 Singer +44 20 7496 3000
Mark Taylor / Lauren Kettle
Dowgate +44 20 3903 7715
James Serjeant